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Should the other heirs engage into a lease, they are only entitled to the percentage equal to the ownership they have in the undivided property. For example, if the undivided property is 10 acres and there are 2 heirs, each heir normally would be entitled to 50% rights to the whole property. They would not each be heirs to 5 acres. If more heirs are involved, then the percentage changes.
Say an undivided 10 acre property had 2 owners...and one leased...would the company leasing only pay the one owner a bonus on 5 acres? If so which 5?
Or would the company pay the bonus for the 10 acres but only half the bonus?
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AboutAs exciting as this is, we know that we have a responsibility to do this thing correctly. After all, we want the farm to remain a place where the family can gather for another 80 years and beyond. This site was born out of these desires. Before we started this site, googling "shale' brought up little information. Certainly nothing that was useful as we negotiated a lease. Read More |
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